Brokered Transaction

Any Mortgage Loan Mortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or  a mortgage debt obligation with a Fannie Mae credit enhancement. Test Notes-SV Test Again Sub-bullet test1 Sub-bullet test2 sourced by you using a third party (e.g., a Mortgage Loan Broker Mortgage Loan BrokerThird-party Person who arranges Mortgage Loan financing on the Borrower’s behalf, or Transfers/Assumptions on behalf of the new Borrower for an assumption, or transferee for a transfer. or Correspondent) for which the third party receives a referral or other similar fee paid by you or by, or on behalf of, the Borrower BorrowerPerson who is the obligor per the Note. .  The following are not Brokered Transactions, even when a referral or other similar fee is paid or received:

  • you use an investment sale broker retained solely to assist in selling a Portfolio Mortgage Loan Portfolio Mortgage LoanMortgage Loan purchased by Fannie Mae and held as of a certain date regardless of whether it is a Cash Mortgage Loan or an MBS Mortgage Loan. Property PropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). that is not being refinanced with Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! ;
  • the third party is another multifamily Lender LenderPerson Fannie Mae approved to sell or service Mortgage Loans. ;
  • the third party continues receiving ongoing referral or other similar fees after the Mortgage Loan Origination Date Mortgage Loan Origination DateDate you fund a Mortgage Loan to the Borrower. for subsequent Mortgage Loans Mortgage LoansMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or  a mortgage debt obligation with a Fannie Mae credit enhancement. Test Notes-SV Test Again Sub-bullet test1 Sub-bullet test2 originated by you with that same Sponsor SponsorPrincipal equity owner and/or primary decision maker of the Borrower (often the Key Principal or the Person Controlling the Key Principal). and with which the third party is not involved; or
  • the third party owns more than 5% of your total equity.
Synonyms
Brokered Transactions